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Wednesday, 4 November 2015

The Australian Accounting Standards Board (AASB) is seeking feedback on ED270 Reporting Service Performance Information , which was released by the AASB in August this year.

Service performance information relates to the delivery of goods and/or services with the intention of having a positive impact on society or segments of society. Service performance information (in conjunction with an entity’s financial statements) assists users of financial statements to assess an entity’s performance.

Under the AASB’s proposal for a mandatory standard, not-for-profit public and private sector entities that prepare general purpose financial statements would be required to report information on their service performance at least annually.

Kris Peach, Chair of the Australian Accounting Standards Board , and Joanna Spencer, AASB Project Manager, recently visited the UWA Business School to discuss the AASB’s exposure draft.

Kris and Joanna also participated in a research forum about the AASB’s research agenda with UWA academics. Led by members of the AASB Academic Advisory Panel, Professor Ann Tarca (UWA) and Professor David Gilchrist (Curtin University), the key topics for discussion included service performance reporting, the Australia reporting framework (including the reporting entity concept) and the AASB’s Agenda Consultation process.

Photo: Kris Peach with Professor Phil Dolan, Dean UWA Business School and members of the AASB Academic Advisory Panel, Professor Ann Tarca (UWA) and Professor David Gilchrist (Curtin University).

Media references

Karen Della Torre (UWA Business School)                                  (+61 8) 6488 8538
Verity Chia (UWA Business School)                                            (+61 8) 6488 1346

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